Oddbean new post about login | logout Blackrock owns exactly zero Bitcoin. Not even their customers own Bitcoin. CoinBase owns it. At any point, The tyrannical US government can forcefully seize all of that CoinBase bitcoin in exchange for a fixed price US dollar amount. For everyone else (US tax cows) who have bitcoin in self-custody, they can only scare them into handing the Bitcoin over. Or scare them into not leaving the country.
i remember a book that spoke about cows growing wings.
Same with saylor outfit isn’t it? He doesn’t hold any.
In the end if he gets rekt it's just one person doesn't matter how much Bitcoin it is.
Yes, it is my understanding that saylor also uses coinbase to own microstrategy bitcoins. One centralized point of control.. coinbase.
Saylor can't be so stupid as to hold $msrt Bitcoin on Coinbase?
They can essentially pull an EOS. Take the Bitcoin and issue a shitcoin in exchange. Sure, they’ll have a massive BTC treasury, but it’ll slowly but surely bleed out over time from insider corruption and because they don’t actually produce anything. I’d wager that the larger the pot, the faster it shrinks, similar to stellar physics. Also, the political vultures will carve it up particularly fast because they don’t understand its long term value, whereas the EOS scammers are more likely to get it by now.
It’s a scenario we have to keep in mind. But most probably the U.S. will “re-value” the gold price forcing non- Western countries also to accept the new, very high price of gold and therefore crash every other equity (stocks, real estate and bitcoin).
except blackrock owns America so that would be kinda hard to happen
Good point, but it can still happen